India Forex Live – Many believe that the crypto market is the first to be open 24 hours a day. That’s not entirely true. The international foreign exchange market has been open 24 hours a day for decades. Does this mean that Indian forex market hours are also active all day, every day? Read on to find out.
The Forex market is diverse. There are central banks, hedge funds, and even tourists participating in one form or another. What you’re worried about is the working hours of the currency market, which is part of the broader currency market.
India Forex Live
The Indian currency market is where participants can buy and sell exchange-traded currency derivatives. It consists of exchanges, brokers, and participants such as banks, corporations, and retailers like you.
Forex Market Opening And Closing Time In India
The currency pairs you can trade either include INR as a quote or do not include INR at all. This difference is important because the forex times for the two types of currency pairs are different.
Additionally, there is significant overlap in market hours for trading any currency. The following is a detailed explanation of forex trading hours for INR and cross-currency pairs.
During these trading hours, Forex traders in India can buy and sell futures contracts on four currency pairs: USD-INR, EUR-INR, GBP-INR, and JPI-INR. This pair is usually abbreviated as FCI-INR, where FCI stands for Foreign Currency.
The market for trading FI-INR pairs opens at 9.00 am, three and a half hours after Japan and two and a half hours after the start of the foreign exchange markets of Australia, Hong Kong and Singapore.
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This is important because it is common knowledge that overlapping markets affect the liquidity and volatility of a particular currency pair, especially if it is a quote or basis like JPI.
When the Indian forex market closes at 17.00 for INR pairs, there is a relatively large overlap with the European forex markets, especially Germany and the UK. This is known to affect the GBP-INR and EUR-INR pairs.
You can trade futures contracts for three currency pairs, EUR-USD, GBP-USD, and USD-JPI. As you can see, this Forex trading pair has two foreign currencies as the base and quote. USD appears in all of them.
That is why the forex market hours for these cross currency pairs are relatively different from those for INR pairs. You will notice that they are two hours later and overlap with the opening hours of the US, UK and German forex markets.
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Now that you more or less understand the working hours in India, you will benefit from knowing the trading holidays for exchanges like MSE, NSE, and BSE.
The Forex market is not open on public and national holidays. In fact, there are 19 holidays in 2023 that will keep the foreign exchange market closed. Here is a complete list of trading and clearing holidays.
Interesting Fact: There are 6 national holidays in 2023 which fall on weekends. That’s why they’re not on the list.
The Forex market is unique because it is open anywhere in the world, at any time. For example, a forex trader in New Zealand starts his day at 3.30 am IST; an American Forex trader ends his day at 2.30 IST.
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Since North American markets open after midnight IST, forex trading technically takes place 6 days a week from an IST perspective. But there are limits. Not all currency pairs are liquid 24 hours a day.
There is a logical reason for this. Each country has a local currency (INR), while other countries use a common currency (such as EUR).
Traders from these countries or regions are more likely to use their home currency en masse during their forex trading hours.
In addition, volatility is known to be high in the international forex market when there are overlapping trading sessions between regions and countries.
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So it’s not an exaggeration to say that someone somewhere will start trading currencies at any time of the day. After all, many forex times overlap. However, it is important to realize that not all times are the best times to trade forex.
The forex market in India is open from 09.00 to 17.00, while trading can continue until 19.30, same goes for cross currency pairs. Additionally, liquidity and volatility are not always the same during working hours in the Indian forex market.
The difference is based on overlapping trading sessions around the world. We have touched on this point before. The logic is that a currency pair can experience trading activity based more or less on two factors.
The first is domestic, relating to the country’s trading hours. For example, a currency pair that uses USD as its quote or base may have high liquidity potential during US currency trading hours.
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Experts also suggest that the best time to trade forex is when several trading sessions are active around the world, overlapping and creating a spike in trading activity.
Currency trading hours in India are from 9.00 to 19.30. INR currency pairs can be traded till 17:00 while some currency pairs can be traded till 19:30. The forex market in India will close on 19 days in 2023.
While the currency market can be an avenue for creating wealth, it is known to be relatively risky for retail traders due to the global nature of the market and the presence of large players who can price out smaller players.
Therefore, it is important to understand your ideal trading system, from indicators to stop loss levels. Remember, creating wealth in the PIP currency markets through PIPs requires research, patience and risk management.
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The Forex trading market in India opens at 9.00 am (IST), which means currency trading can be done from then onwards.
The forex market in India closes at 17:00 (IST) for most currency pairs. Market closing time for certain cross currency pairs is 19.30 (IST).
The forex session in New York opens at 17:30 IST and closes at 02:30 IST. Certain trading hours for currency pairs in India overlap with US markets by more than an hour.
The London forex session starts at 11.30 IST and ends at 20.30 IST. There is a lot of overlap between the trial in London and the trial in India.
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Forex holidays are days when you cannot trade currency derivatives in India. Exchanges remain closed during holidays, which is why futures and options orders in the foreign exchange market cannot be placed. The entire list of Forex Holidays 2023 in India is covered in the table above.
Disclaimer: This should not be considered investment advice. Trading and investing in the securities markets involves risks. Please conduct your own due diligence or consult a trained financial professional before investing. The key to making profits when trading currency pairs is a good understanding of Forex trading. You probably already know this. In fact, you may be a stock or commodities trader looking to diversify your portfolio by entering the world of online Forex trading.
Regardless of your area of expertise, you have the right to ask yourself – is Forex trading profitable in India? Let us answer your question first with a short answer. Yes and no. Whether forex is profitable or not depends on several factors. For the long answer, keep reading!
First the basics if you are new to the world of forex. Forex trading or foreign exchange trading is one of the largest financial markets in the world. Forex trading allows traders to sell, buy and exchange international currencies at prevailing market prices.
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Forex trading involves simultaneously selling one currency while buying another, known as “currency trading”. In this case, we will stick to Forex trading involving currency derivatives.
Derivatives are forward-looking contracts that act as a promise to buy or sell something at a later date and at a pre-agreed price. USD-INR, EUR-INR, GBP-INR and other currency pairs can be traded in India through derivatives.
Trading is done through registered forex derivatives brokers such as Dhan. When you trade currency derivatives, your goal by default is profit. How you profit is up to you.
For example, some people like to trade currency derivatives while others prefer long-term currency contracts. No matter what, you need to learn Forex trading and come up with a strategy that suits your goals, risk appetite and other factors.
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To fully understand the concept of Forex trading, you must know the objectives and players involved in this market. The four key players in the foreign exchange market are distinguished by their objectives – governments, banks, hedge funds and speculators.
Banks and governments in the currency trading market are involved solely for regulatory or economic reasons. On the other hand, there are speculators or hedgers who want to make money. If you are an individual trading Forex for yourself, you are a speculator. Curious? Continue reading.
Hedging involves protecting against potential losses by entering into currency futures contracts or options contracts. Hedgers protect against currency price fluctuations by taking positions in the market.
Speculators want to predict the volatility of currency derivatives to make a profit. This speculation is based on several factors. as a macroeconomic factor or some technical indicator
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